PLANO, TEXAS — A partnership between the Texas State Affordable Housing Corp. (TSAHC), DMA Cos. and other stakeholders have opened The Park on 14th, a 62-unit affordable housing project located northeast of Dallas in Plano. Units are reserved for households earning 80 percent or less of the area median income. Amenities include community and media rooms, business and fitness centers and outdoor recreational space. A U.S. Department of Housing and Urban Development (HUD) loan and equity from TSAHC financed the bulk of the project.
NEW YORK CITY — Local developer RXR has begun leasing Eighty Nine Dekalb, a 30-story apartment building located at the nexus of Brooklyn’s downtown area and Fort Greene neighborhood. Designed by local architecture firm Perkins Eastman, the development will have 324 units, 98 of which will be subject to income restrictions. Units will come in studio, one- and two-bedroom floor plans, with private terraces/balconies available in select residences. Amenities will include a fitness center, community lounge, designated dining area, library, coworking spaces, podcast studio, screening room, pet spa, an outdoor fitness space and two patios with grilling stations. Eighty Nine Dekalb will also feature 55,000 square feet of academic and office space for Long Island University. Full completion is slated for early 2026. Rents start at roughly $3,800 per month for a studio apartment.
NEW YORK CITY — ACRES Capital has provided a $40.7 million loan for the refinancing of The Eve, a 76-unit apartment building located in the Crown Heights neighborhood of Brooklyn. The Eve is a seven-story, newly constructed building that offers elevator service and a mix of studio, one- and two-bedroom units. Amenities include a fitness center, resident lounge, children’s playroom, rooftop deck, pet washing station and various outdoor recreational spaces. The name of the borrower was not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $13.5 million sale of a 28-unit apartment building on Manhattan’s Lower East Side. The six-story, recently renovated building at 135 Eldridge St. was originally constructed in 1900 and includes two commercial spaces that are leased to Akiko Nails and Ha’s Dac Biet. Joe Koicim and Logan Markley of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
MISSOULA, MONT. — Trident Development is underway on plans for a new senior living community in Missoula. Situated within the Old Sawmill District, the property will feature independent living, assisted living and memory care residences. Trident’s partner, Lifespark Senior Living, will manage the community. Trident plans to break ground on the development in 2026.
MISHAWAKA, IND. — Eastern Union has secured $15.9 million in financing toward the condo conversion of River Rock Apartments, an 82-unit property in Mishawaka. The five-story asset is located at 116 W. Mishawaka Ave., six miles east of South Bend. Built in 2015 and 2016, the property features eight commercial units spanning 4,385 square feet that will remain after conversion. The site also includes a 31,027-square-foot parking garage. Joe Siegfried of Eastern Union arranged the three-year loan, which features an 8 percent interest rate, a 75 percent loan-to-value ratio and interest-only payments. Republic Bank provided the loan on behalf of the undisclosed borrower.
AUSTIN, TEXAS — ParkProperty Capital, an investment firm with offices in Atlanta and Germany, has refinanced The Albright, a 261-unit apartment building in North Austin. Developed in partnership with another Atlanta-based firm, Wood Partners, and completed last summer, The Albright offers studio, one-, two- and three-bedroom units with an average size of 876 square feet. Amenities include a pool, fitness center, coworking lounge, clubroom, gaming area, pet park and a rooftop lounge. Elliott Throne, Josh Odessky and Jayme Nelson of JLL arranged the floating-rate loan through global private equity firm ACRE on behalf of ownership.
NEW YORK CITY — Westhab Inc., a nonprofit provider of housing and human services, has opened Fort Greene Family Center, a $73 million transitional housing complex in Brooklyn. Aufgang Architects designed the 11-story building, which houses 105 units and was developed in partnership with Slate Property Group. The building also features 1,405 square feet of community facility space and recreational areas for children. In addition, residents have access to a range of onsite social services: job training programs, financial literacy training, youth services and educational support, healthcare coordination and wellness programming.
NEWARK, N.J. — CBRE has negotiated the sale of a portfolio of two multifamily buildings totaling 43 units in Newark. The building at 66-68 Garside St. consists of 20 gut-renovated units and 3,000 square feet of commercial space. The building at 536-540 Central Ave. is being redeveloped to house 23 loft-style units in addition to 4,000 square feet of retail space. Richard Gatto, Fahri Ozturk, and Zach McHale of CBRE represented the seller, locally based alternative asset management company Napier Park Global Capital, in the deal.
BERKELEY, CALIF. — Construction is underway on Pique, a 484-bed student housing project by Gilbane Development located at 2587 Telegraph Ave. near the University of California, Berkeley campus. The developer recently opened a leasing office for the community at 2430 Bancroft Way. The project is scheduled for completion in summer 2026. Pique will offer units in four-, five- and six-bedroom configurations. Shared amenities will include an indoor-outdoor yoga and fitness center with an outdoor sauna; outdoor study spaces; two rooftop decks separated by an indoor-outdoor club room; community terrace space; a ground floor coworking lounge; smart food lockers; and private study rooms on each floor. The community will also feature 2,900 square feet of ground-floor retail space.